Anyone else follow this company??? It almost seems unreal what the CEO has done over the past few years. It’s almost like I’m watching an American Greed episode in action.
I don’t really follow it too much but I’ve met Sardar Biglari before. He’s kind of a pompous ass, though that should be obvious to anybody who looks at the company. He want’s to be Buffett but get paid like a hedge fund manager.
can u give us the deetz. i juss wikipediad him. whys he bad.
“To remain successful, we must persist within a culture of thrift, squeezing out expenses and applying methods to lower our cost structure.” “Company shall pay to Executive, . . . (0.25)(New Book Value - ((High Water Mark)(x)))”
basically he is taking a dividend of 1/4 of any increase in book value. without even doing any sums I can see that the rights issue landed him a nice cheque, probably it amounts to a negative retention ratio…